In October 2023, a circuit court in Hernando County, Florida issued a search warrant against the bank impersonation scheme. U.S. investigators later discovered that some of the illicit proceeds ended up in a WazirX account belonging to Punam Jaiswal.
Under the Mutual Legal Assistance Treaty (MLAT) between India and the U.S., a formal request was sent to Indian authorities to assist in freezing and recovering the assets.
According to sources, India’s Ministry of Home Affairs (MHA) forwarded the DOJ’s request to the CBI in January 2025. The CBI opened a preliminary inquiry in June, verifying the documentation before initiating formal attachment of crypto and rupee holdings in WazirX.
Details of the Freeze: Bitcoin, Ethereum & indian Rupees
Investigators claim Jaiswal’s WazirX wallet held:
0.26 Bitcoin
7.83 Ethereum
₹870,000 in Indian rupees
These holdings were initially frozen by the exchange at the agency’s request. The CBI is now seeking to permanently attach the assets, ensuring they cannot be transferred or liquidated while the criminal-finance case proceeds.
Officials say this step is crucial to prevent misuse of proceeds of crime, in line with the U.S. court’s order and India’s legal mandates.
Source: CoinEdition
